Analyst Coverage

List of analysts of securities companies and research companies who make recommendations and reports of Fujifilm's performance, etc.

As of Jan. 17, 2012

In alphabetical order of company names

Firm	Analyst
Barclays Capital Japan Limited	Masahiro Nakanomyo
BNP Paribas Securities (Japan) Limited	Kunihiko Kanno
Citigroup Global Markets Japan Inc.	Masahiro Shibano
Cosmo Securities, Co., Ltd.	Kazuyoshi Saito
Credit Agricole Securities Asia B.V., Tokyo Branch	Makoto Kurosawa
Credit Suisse Securities (Japan) Limited	Yu Yoshida
Daiwa Securities Capital Markets Co. Ltd.	Kougo Horie
Deutsche Securities Inc.	Yoshikazu Higurashi, Tomoko Yoshihara
Goldman Sachs Japan Co., Ltd.	Toshiya Hari
JP Morgan Securities Japan Co., Ltd.	Hisashi Moriyama
Macquarie Capital Securities (Japan) Limited	Jeff Loff
Merrill Lynch Japan Securities Co., Ltd.	Eiichi Katayama
Mitsubishi UFJ Morgan Stanley Securities Co., Ltd.	Masahiko Ishino
Mizuho Securities Co., Ltd.	Ryosuke Katsura
Morgan Stanley MUFG Securities Co., Ltd.	Takumi Kakazu
Nomura Securities Co., Ltd.	Tetsuya Wadaki
Okasan Securities Co., Ltd.	Kazumasa Kubota
SMBC Nikko Securities Inc.	Hirosuke Takayama, Kazuharu Miura

The above list is provided only for the purposes of informing investors of the names of analysts and related brokerage firms that provide analyses and forecasts of Fujifilm's business performance.

Analysts are independent of Fujifilm. Analysts exercise their own judgment in their analysis of Fujifilm's finances, performance results, business activities and technologies, the operating environment, and economic trends, and independently forecast Fujifilm's results. Neither Fujifilm nor its management is involved in these processes in any way.

This list may not be complete and is subject to change as companies add or delete coverage of Fujifilm. This list is not intended to induce or recommend the purchase or sale of Fujifilm's shares. Furthermore, it is possible that not all of the information provided by these analysts is current and there may be inconsistencies.

Fujifilm does not distribute copies of analysts' reports, and any reliance by investors on these reports is at their own risk.